the CR was always going to flop given that there has been so much resentment and negativity ... company did its best trying to steady the ship by releasing the resource upgrade ... too little too late ... now what is meant to be an invitation to buy the shares at 2.8 is turning into a fuss where you can buy them on market at a 7% discount and counting ... anyone that participated probably will be selling to cut the loss ... the battle was lost when FRANK ZHU sold his holdings in June (I wonder if he took own his entitlement, probably not) ... followed by a series of unfortunate events in trying market conditions ... not everything was management's fault, but the form was poor
from my LOM experience ... low 2s is looking likely ... worse case scenario 1.8 - 1.9 ... time to double up then ... mind you LOM was trading at a 30% discount to the CR price, and now the SP is 30% above the CR price ... it is not a guarantee that ORD will do the same ... but as long as Frank Zhu and Peter Shou don't flee the country, ORD will live to fight for another day ... in the interim, leave a bid in the low 2s and look away from the screen ... it is not going to look pretty for a few weeks ...
VAN Price at posting:
2.6¢ Sentiment: Hold Disclosure: Held
